The global mobile security market size was valued at USD 37.88 billion in 2021. It is expected to reach USD 301.13 billion by 2030, growing at a CAGR of 25.90% during the forecast period (2022–2030). Mobile security is the defense against various threats and vulnerabilities of different mobile devices, such as smartphones, laptops, tablets, and other portable computing devices. It also protects mobile device hardware and software from hackers and online attackers. Companies have created various security software and hardware over the years, including containerization software, mobile application management, authentication security, etc. Additionally, implementing a BYOD policy increases employee productivity. Organizations have increased their investment in creating specialized mobile security applications due to the employee's access to the corporate network and data.
Major market growth drivers include the rise in online mobile payments and the adoption of BYOD in workplaces, which has increased the need for security. The market is expanding due to the increased demand for video streaming content protection. The development of the market is further hampered by the high cost of mobile security solutions and the difficulty of designing embedded security solutions. Additionally, the market is anticipated to benefit from the growing use of artificial intelligence and machine learning in mobile security applications.
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Increasing Security Requirements by BYOD Adoption
Businesses are embracing the BYOD trend, which gives employees access to a more productive workplace. The employees continue to use the company network even though their electronic devices are located in locations other than the company's physical location. As a result, there is a greater need to ensure corporate and financial data security and safety in remote locations. Companies must use a security solution that distinguishes between company data and employee personal information. Individual users also experience data loss when hackers target users' financial information, audio, and video files. These factors are anticipated to grow the global mobile security market during the forecast period.
Increasing Demand for Protecting Streaming Video Content
Digital Rights Management (DRM) technology, known as "protection streaming," is used to secure mobile devices' digital data from unauthorized access. Delivering content security across devices and managing a complicated process to ensure content safety present a challenge for content broadcasters and network providers. Solutions for securing digital user data are being offered by major players in the mobile security market. For instance, Microsoft created the PlayReady technology, a content protection technology that is widely used. In addition to offering security solutions, MobileIron container size corporate data without affecting personal data for businesses.
Exorbitant Prices for Mobile Security Solutions
When it comes to managing employee and company-owned mobile devices, businesses face numerous difficulties. The loss of customer or business data caused by malware and stolen devices worries IT companies. Despite the risks' obvious consequences, end-users often choose not to use mobile security solutions because of the high implementation costs. It would be costly for the business to provide mobile security for both personally owned and company-issued devices, restraining the market's mobile security expansion.
Increasing Use of Artificial Intelligence and Machine Learning in Mobile Security Applications
The development of smartphones and artificial intelligence go hand in hand. Machine learning and artificial intelligence are being used by smartphone manufacturers like Apple, Samsung, Huawei, and others to develop new smartphone models, creating lucrative opportunities for the market's expansion. In addition, a study found that 200 providers of mobile security applications will integrate AI (artificial intelligence) and machine learning into their products to enhance features like cameras and security software. Additionally, businesses are integrating artificial intelligence into smartphones and tablets to strengthen mobile applications and improve the performance of various mobile devices. AI also helps users make better decisions by enabling mobile applications to gain insights from the diverse data generated by all users. This demonstrates a profitable opportunity for the market.
The global mobile security market is segmented by the operating system, end-user, enterprise solution type, organization size, and industry vertical.
Based on the operating system, the global market is bifurcated into android and iOS.
The android segment accounts for the largest market share and is expected to grow at a CAGR of 24.6% during the forecast period. Android is an operating system, middleware, and critical mobile applications in a complete software package for mobile devices. The operating system is based on the free and open-source Linux kernel and uses a particular virtual machine tailored to maximize memory and hardware in a portable setting. The software program can be extended to include brand-new cutting-edge technologies as they appear. The Android platform lowers the barriers to creating new, advanced applications and gives users the freedom to customize their phones or device. Android has developed into one of the most adaptive operating systems due to its efficient functioning and the abundance of applications available for smartphones and tablets.
Apple Inc. created and released the iPhone Operating System, a mobile operating system that supports the iPhone, iPod Touch, and other Apple products like the iPad and Apple TV. Apple does not grant licenses to install this operating system on hardware made by companies other than Apple. The ecosystem that Apple has developed consists of iTunes, iDevices, and Appstore Apps. The business also has a competitive advantage thanks to its partnerships with various telecom carriers. The company's OS controls the hardware and operating system in addition to approving the apps on the AppStore.
Based on end-user, the global market is bifurcated into individuals and enterprises.
The enterprise segment contributes the most to the market and is expected to grow at a CAGR of 25.3% during the forecast period. To protect their data and increase productivity, businesses in the financial sector, retail, government, education, automotive and manufacturing, telecommunications and IT, and healthcare are implementing mobile security solutions. Enterprise users require security solutions that guarantee the safety of every document and data file while enabling users to continue working together and being productive in a highly secure manner. Additionally, many businesses using BYOD demand software solutions that give mobile users all the apps they need to be effective and safe at work. According to their needs, companies use mobile security software solutions, resulting in a profitable opportunity for the market.
The individual segment comprises mobile phone users wanting to secure their personal information using security applications. Additionally, the growing use of mobile phones in developing nations like Bangladesh, China, and India fuels the expansion of this market. People also demand assurance of remote backup to ensure that data is accessible for immediate use if a device is rendered inoperable. Data should be able to be restored to any subsequent device, regardless of the operating system, using the security solutions made available for personal use.
Based on enterprise solution type, the global market is bifurcated into authentication, mobile application management, and mobile data protection.
Mobile authentication owns the largest market share and is expected to grow at a CAGR of 23.7% during the forecast period. Authentication checks individuals or systems using identity (such as a username) and credential-based authentication codes (e.g., passwords). Mobile device user authentication is complex, and many current solutions are either usability- or security-focused. Mobile users need quick access frequently, so manually entering their passwords is inconvenient. Mobile devices need to be protected from unauthorized access to the data they store, applications they run, and connectivity because they are frequently lost or stolen.
Mobile Application Management (MAM) is more concerned with controlling applications than managing devices. MAM focuses on application life cycle management, usage tracking, and software delivery and licensing. Network administrators can install, update, and remove the software from laptops, tablets, and smartphones using a mobile application management system. Application management enables a company to create, distribute, and source applications while making them securely accessible to users.
Based on organization size, the global market is bifurcated into large enterprises and SMEs.
The large enterprise segment is the most significant contributor to the market and is expected to grow at a CAGR of 24.7% during the forecast period. The complexity of managing and securing multiple endpoints in large organizations encourages the adoption of mobile security solutions. The adoption of workspace-as-a-service is driven by these virtual mobile devices and apps, which offer constant access from any location at any time and are a significant factor in the market's expansion. The demand for better mobile device management services among these big businesses and the need to increase employee productivity is driving the growth of the mobile security market.
Small and medium-sized businesses are defined as those with fewer than 1,000 employees. Due to rapidly changing technology, SMEs frequently struggle to survive in this vulnerable competitive industry. Small and medium-sized businesses (SMEs) face resource constraints in contrast to large corporations and need solutions to complex problems bet optimize the cost of their assets and requirements. The ability of SMEs to increase operational effectiveness and cut costs thanks to cloud-based mobile security devices has led to an increase in the adoption of mobile security solutions among SMEs. They are inclined to adopt cloud-based mobile security fueling the market expansion.
Based on industry vertical, the global market is bifurcated into BFSI, IT and telecom, retail and e-commerce, healthcare, and government and defense.
The BFSI segment owns the highest market share and is expected to grow at a CAGR of 23.5% during the forecast. Global financial institutions aim to increase their customer base while fending off increasingly complex threats. Security is the top priority in the financial sector because mobile devices are increasingly being used to access private financial information. Hackers and automated malware could modify accounts, start erroneous transactions, replace account numbers, and alter application behavior. The market for mobile devices and mobile payments is growing, and so are the threats to and frauds against financial institutions. To provide financial institutions with cloud-based mobile solutions, IBM and Monitise have partnered. Entrust has created a secure authentication platform that is adaptable and capable of handling various security settings.
Due to the rise in data loss and security attacks like cyber threats, hacking, and security breaches, mobile security has become increasingly crucial as mobility becomes more widespread. Government employees risk themselves and their organizations by using mobile devices for work. Governmental organizations must create security guidelines that are compatible with various mobile platforms. Data sets for new mobile projects should be gathered while considering updated security protocols. Mobile devices such as smartphones, tablets, and applications have revolutionized how people interact, communicate, and access their data. These technologies make it easier for government employees and agencies to carry out their duties more effectively and efficiently.
North America Dominates the Global Market
By region, the global mobile security market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
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North America is the largest shareholder of the global mobile security market and is expected to grow at a CAGR of 25.2% during the forecast period. There are more mobile security concerns than ever before as more individuals buy mobile devices. Internet savvy people make up nearly 81% of North America's population and are rising yearly. In North America, mobile users frequently download apps from reliable app stores where the chance of running into malware is low. Businesses in the region are implementing security measures that reduce data security risks while protecting employee personal information. Governments not only create laws and regulations that set the parameters for market competition, but they also increase demand. Numerous factors, including technological advancements, availability, cost, societal trends, and economics, are driving the adoption of mobile technologies in North American businesses.
Asia-Pacific is expected to grow at a CAGR of 27.0%, generating USD 101,604.01 million during the forecast period. The Asia-Pacific region has started using mobility solutions depending on the consumer's needs. Increased usage and reliance on mobile devices significantly impact end-user access to enterprise applications and data. Companies show little resistance to their employees using BYOD as the trend gains momentum. Increased pressure on businesses to permit more personal devices on their property makes it more difficult for the IT department to manage data-related services. To support BYOD initiatives, many governments adopt mobile security solutions.
European nations are currently confronted with ransomware and charging as mobile dangers. Customers must protect their data and privacy due to the rise in malicious applications for mobile devices and cyber threats. Malware, known as ransomware, prevents users from using their mobile devices and demands payment to unlock them. Mobile device users are increasingly utilizing online services due to the region's growing adoption of smartphones and network service providers. Mobile malware can spread swiftly due to increased internet usage. For the providers of security software solutions, the capacity of malicious software to stay active for an extended period is a significant concern.
The number of subscriptions has decreased due to the companies in the area (Saudi Arabia) deactivating many unknown SIM cards. One of the areas with the fastest rate of technological adoption of mobile devices is Latin America. Mobile devices are being monitored by the regional regulatory authorities using surveillance malware. The market share will increase through industry cooperation in providing joint solutions for disaster recovery, reliability, and performance improvement. The LAMEA region is a rapidly growing market with a sizable consumer base. As a result, the region's market share will increase if businesses expand their operations there.
List of key mobile security market companies profiled